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Clothing trade to burgeon in BRIC countries
16
Feb '11
Industry experts predict by the year 2050, the BRIC countries - Brazil, Russia, India, and China would become the four major dominating economies. Apparel makers and retailers are intensely focusing on the mass markets of the same.

A.T. Kearney study reveals that the top ten countries of the GRDI 2010 have a diverse mix of small as well as large markets in the nine years history of the index. China ranks first, India; the third, followed by Brazil at sixth, and Russia at the tenth position. (A.T. Kearney Study, 2010 GRDI)

The BRIC countries cover more than 25% of the world's landscape and 40% of the world's population. They are accountable for a combined GDP of 15.435 trillion dollars.

Strong polarization of buyers, positive changes in their income level, changes in their shopping trends, and expectations of the middle, and upper middle class segments to wear branded, and global brands are the positive aspects of these countries.

In today's retail market, growth is not of expanding the business from developed into developing markets, but is about the retailers using their exceptional insights to foresee the countries that are likely to come in the global radar in the near future.

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Fibre2fashion News Desk - India


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